The Beauty of Business Ownership
Health and beauty franchises across the country help Canadians look and feel their best—making for a meaningful opportunity for aspiring entrepreneurs
There’s a lot that goes into looking and feeling good, and the health and beauty industry plays a large role in how Canadians from coast to coast can clean up well and look their best. From hairstyling and facials to waxing and hair removal, the opportunities to refresh your look and maintain your grooming are endless thanks to beauty franchises across the country.
In Canada, the beauty and personal care industry is worth $8.32 billion USD, with expected growth of 3.73 per cent annually from 2022 to 2026. That’s according to Statista, that also reports 30.4 per cent of the revenue generated in the beauty and personal care industry is via online purchases from stores across the country.
In 2021 alone, the personal care industry in Canada generated $9.7 billion, and on average, the total revenue per person totaled $255.99, per Review Moose. Byrdie adds that in the U.S., women spend approximately $3,756 each year on services and products to enhance their appearance, which amounts to about $225,360 in their lifetime. In first place for beauty services is facials, followed by haircuts, makeup products, manicures, and pedicures. As for men, they reportedly spend about $175,680 on health and beauty products in their lifetime, with the most popular spend being on facial moisturizers, and expenses such as fitness gyms, hand cream, and shaving products following suit.
Health and beauty care are on the up! Read on for fast facts about why you should consider joining this widespread and growing industry.